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I don’t know about you, but every time I lift up my head over the last 2-3 weeks someone is telling me the world is coming to an end. Trust me on this one; the world isn’t coming to an end. The good news is that there are some tactical steps you can take to protect yourself.

Even during the Great Depression unemployment only got up to ~15%. The average corporate denizen is not going to lose their job. The odds are in your favor. That being said, the current economic crisis is going to generate waves of fear and hysteria fueled by the pandering media. This is your opportunity to show yourself as a leader among your peers. Fear is a choice. Strength is a choice. Remember people are defined by how they act when the chips are down.

What to do when the sky is falling

1. Don’t panic. Whether you’re an executive, a line manager or an individual contributor you need to control your emotions. Think of the old saying “A true leader is the person who can stay calm when those all around them are panicking.” Running around in circles and screaming is only going to make you dizzy. Stay calm – especially in your interactions with your management. Executives value a person who is calm under stress. Be that person and when the smoke clears you’ll have more leverage.
2. Turn off the T.V. and the radio. The media is only trying to sell newspapers and ratings. Bad news sells – but you don’t have to buy. Just stop listening and you won’t get upset. Why do you have to know if the stock market is up 500 or down 500? Can you change anything? No. Turn off the noise and focus on the tasks at hand. Focus on positively affecting the things that you can change and don’t worry about the things you cannot.
3. Help your fellow humans by attitude and example. Your co-workers, direct reports and even your management need to be reassured. Focus on being the Buddha of your office environment. Don’t join in the office bitch sessions. Don’t join in the office pool around when the company is going to go bankrupt. Don’t get sucked into discussions about layoffs and failure.
   “Sorry folks, I can’t waste time on this. I have a job to do, and I’m going to do it to the best of my ability until someone tells me differently.” Be the rock for your peers.
4. Think big. One good thing about situations like this is that it reveals just how susceptible we all are to random outside events. Use the impetuous of this to think about what you would do differently to get yourself out of the risk zone. What about that business you always wanted to start? Been meaning to work out more? Lose some weight? Now’s a good time to focus on those things you have been putting off when you realize the tenuousness of your current situation. There’s no time like the present!
5. Prepare for transition. If you really think you are going to get unemployed soon then start preparing for it. Decide what you want to do and who you want to work for. Write up your paperwork. Write down you strengths and accomplishments. Being prepared to look for a new job will fill you with a comfortable confidence and allow you to be the Zen master during the stormy times. Now may not be the time to start looking for a job. In general it’s usually easier to fix the job you have than to get a new one.
6. You’ve got nothing to fear except fear itself. FDR knew it. He knew that what he had to do to drag Americans out of the Great Depression was to instill them with hope and confidence. That’s what he set about doing. It was all about positive action. Fear can only hurt you if you let it. Don’t let it. Take positive action towards a new goal. Just the mechanics of setting your fear aside and moving towards a positive goal will fill you, your environment and your company with hope and strength.Sometimes people get angry with me when I refuse to join them in lamenting all the evil and wrong in the world. Somehow they think it irresponsible for me to be positive in a soup of negativity. I don’t see it that way. I see myself as the guy in charge - in charge of my emotions, in charge of my environment and in charge of my team. Don’t be a member of the ‘Chicken Little’ mob – set yourself apart as a leader and you’ll be rewarded 10 times over.

Let me know what you think…

photo by snofla

Tags: Financial Meltdown, Leadership, Recession

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